Pyxis Oncology (PYXS) Research & Development (2020 - 2026)
Pyxis Oncology (PYXS) posted quarterly Research & Development of $21.7 million for Q4 2025, up 54.81% year-over-year from $14.0 million in Q4 2024, and up 21.92% quarter-over-quarter from $17.8 million in Q3 2025.
Pyxis Oncology (PYXS) Research & Development (2020 - 2026) Analysis & Trends
Pyxis Oncology (PYXS) has reported Research & Development for 6 consecutive years, with $21.7 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Research & Development rose 54.81% year-over-year to $21.7 million; the TTM figure through Dec 2025 stood at $73.7 million (up 25.45% YoY), while the FY2025 annual figure was $73.7 million, up 25.45% from the prior year.
- Research & Development grew to $21.7 million in Q4 2025 per PYXS's latest filing, from $17.8 million in the prior quarter.
- Across five years, Research & Development topped out at $32.8 million in Q1 2021 and bottomed at $3.2 million in Q2 2021.
- Historically, Research & Development has averaged $16.0 million across 5 years, with a median of $15.9 million in 2023.
- Annual changes were most pronounced in 2022 — Research & Development jumped 435.73% — and 2023, when it tumbled 61.12%.
- Pyxis Oncology's Research & Development stood at $7.2 million in 2021, then jumped by 313.15% to $29.9 million in 2022, then sank by 61.12% to $11.6 million in 2023, then climbed by 20.82% to $14.0 million in 2024, then soared by 54.81% to $21.7 million in 2025.
- Business Quant data shows PYXS's Research & Development at $21.7 million in Q4 2025, $17.8 million in Q3 2025, and $17.1 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 1.37 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 651.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 612.28 Mn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 413.13 Mn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 210.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 97.90 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -588.31 Mn |
| 10 | Pyxis Oncology | 199.01 Mn | 166.02 Mn | - | 16.06 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 16.06 Mn |
| Dec 31, 2025 | 21.71 Mn |
| Sep 30, 2025 | 17.81 Mn |
| Jun 30, 2025 | 17.13 Mn |
| Mar 31, 2025 | 17.04 Mn |
| Dec 31, 2024 | 14.02 Mn |
| Sep 30, 2024 | 17.74 Mn |
| Jun 30, 2024 | 13.95 Mn |
| Mar 31, 2024 | 13.03 Mn |
| Dec 31, 2023 | 11.61 Mn |
| Sep 30, 2023 | 14.69 Mn |
| Jun 30, 2023 | 11.39 Mn |
| Mar 31, 2023 | 11.90 Mn |
| Dec 31, 2022 | 29.85 Mn |
| Sep 30, 2022 | 19.03 Mn |
| Jun 30, 2022 | 17.17 Mn |
| Mar 31, 2022 | 20.07 Mn |
| Dec 31, 2021 | 7.23 Mn |
| Sep 30, 2021 | 7.85 Mn |
| Jun 30, 2021 | 3.21 Mn |